For which market structure do economists have the least precise model of price determination?

Question

Quizplus · Accepted Answer

Economists have the least precise model of price determination for oligopoly market structure because it involves a small number of firms with interdependent decision-making and strategic behavior, leading to complex and unpredictable price outcomes. In contrast, perfect competition in both the short and long run has a well-defined model, and monopoly has a straightforward model as well.

For Which Market Structure Do Economists Have the Least Precise